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The projected fund value assumes an annual management charge of 1.00%, and a gross growth rate of 7.00% per annum. A fund value rebate of 0.25% is applied at the end of each policy year when the total fund value exceeds £50,000.

These figures are only examples and are not guaranteed - they are not minimum or maximum amounts. What you get back depends on how your investment grows and the tax treatment of the investment. You could get back more or less than this. All firms use the same rates of growth for their projections but their charges vary. They also use the same rates to illustrate how funds may be converted into pension income. Do not forget that inflation will reduce what you could buy in the future with the amounts shown. Your pension income will depend on how your investments grow and interest rates at the time you retire.

This information is based on our understanding of current taxation law and Inland Revenue practice, which may change.

The maximum contributions are based on Gross amounts. Basic rate tax relief is given on the contributions - this means that you would pay in slightly less than the amount shown. If you are a higher rate taxpayer, the additional tax relief due can be reclaimed from the Inland Revenue.

We do not store or use the information you provide whilst using the above calculator.

The calculations made reflect benefits derived only from the assumed contributions made and do not take into account your basic state pension or any state second pension benefits you may receive at the state pension age.

The projected pension also assumes that the contributions paid remain level and continue until the specified retirement age.

The level of contributions calculated does not take into account any maximum contribution levels that may apply specifically to your circumstances.

The level of pension you receive assumes a single life level annuity, paid monthly in advance, with a 5 year guarantee and no tax-free cash sum.

The value of your pension in today's terms assumes an annual inflation rate of 2.50%